Meanwhile, amidst a general market downturn, two MemeFi presales are attracting attention, with one set to go live today.

SEC Delays Push Solana ETFs to 2024

As Solana is now the fourth biggest crypto by market capitalization, predictions that it will be the Ethereum killer seem possible. And asset managers are keen to get a slice of the Solana pie, with Cboe, Bitwise, VanEck, 21Shares, and Canary Capital being some of the applicants for Spot ETFs, and Grayscale requesting to convert their Solana trust to a Spot ETF.

However, as the current SEC administration is determined to view Solana as a security, and has denied two filings already, they will likely need to wait to refile when Trump takes power and Gensler steps down on the 20th of January. According to CCN, the SEC has 240 days to consider a Solana Spot ETF, though a decision could come sooner.

From a technical analysis perspective, Solana is showing neutral and sell signals on the daily charts, but on the weekly ,it’s showing neutral, buy, and strong buy.

Weekly TA signals from TradingView

In the long run, today’s price dip may present a buying opportunity for SOL, which, if it reaches the market cap of Eth would be worth around $900 a coin. If Solana were to achieve the same market cap as ETH at its all-time high then we could see a price of around $1200 a coin at some point.

PEPU Aims to Dominate Memecoins With Its New Chain

There’s been a presale that’s been appearing on top 10 lists for the last few months, and that’s Pepe Unchained aka $PEPU. The project, (which is not affiliated with PEPE coin but rather seeks to avail of the frog meme’s popularity), is also a meme coin, but with a twist.

Their original pitch was to ‘free Pepe from the blockchain’, hence the name Pepe Unchained, but ironically (?) have built a blockchain called Pepe Chain.

It’s a fast and scalable layer 2 blockchain on Ethereum with a bridge that will allow people to get from Ethereum to Pepe Chain quickly and cheaply.

The team wants to make Pepe chain the ‘go-to chain’ for memecoins, and is encouraging developers to apply for grants.

After raising over $70 million in presale, the token is set to go live today (December 10th) at 2pm UTC. Given the conditions of the market, we may see an initial dip but then the utility of the coin should boost the price once normal trading conditions resume.

Can Cutoshi’s Cross-Chain DEX and Ecosystem Transform DeFi Access?

There’s another newer presale that’s been gaining a lot of attention, and that’s Cutoshi. Like PEPU, it is a memecoin with utility. The meme is based on the Chinese Lucky Cat, with the idea of bringing luck to people’s portfolios, and the utility is rooted in the ideals of pseudonymous BTC creator Nakamoto.

Specifically, the whitepaper explains that they want to embody “decentralization, privacy, and monetary freedom”, something which blockchains were originally designed to do.

Given the new US administration’s pro-defi stance, this is an excellent time for such a project. Memecoins have been the biggest cycle of 2024 and that’s just among current crypto traders. It’s well known that so-called ‘normies’ flock to memecoins due to their obvious appeal, and so Cutoshi wants to introduce those people and more to the advantages of DeFi.

Like PEPU, they realize that transferring across blockchains can be confusing and that’s why they are building a cross-chain dex. But they also know that some users want true anonymity and so they’ve added a P2P function as well.

This is just the start of the Cutoshi ecosystem, which, importantly, will have a fun learning academy to help people transition from web2 to web3. It will teach them how to make their money work for them on chain, as fiat currencies and world economies continue to suffer from rising costs due to inflation.

Cutoshi still has six more stages to go so for those that missed out on PEPU, or want another coin that is capitalizing off what the market needs, CUTO is worth taking a look at.

For more information on the Cutoshi (CUTO) Presale:

https://cutoshi.com/

Join and become a community member: 

https://twitter.com/CutoshiToken https://t.me/cutoshi

This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article.